Turks & Caicos Real Estate – The Summit Construction Update, June 2024

Positioned on the highest point in Providenciales, The Summit offers 180-degree ocean views over the North Shore. With vantage points ranging from 94 to 160 feet above sea level, the developers of Ridgeview and Karaya Blue, Latitude 22, continue to work diligently in this private residential enclave, in the much-loved Blue Mountain neighborhood.

Environmentally sustainable, the design includes not only 7.5kw of 20 roof mounted Solar Panels, Tesla Powerwall, and a living โ€˜greenโ€™ roofs. Jรถrg Breuning, the founder of Green Roof Technology, is leading the Living Roof project at The Summit. With 40 years of pioneering experience in the field, Mr. Breuning will ensure that the living roofs are meticulously designed to complement the unique climate and ecology of the Turks and Caicos region. The installation of the living roofs for Villas 4 and 5 is projected to be completed by the end of September, with landscaping scheduled to commence in November.

Construction Update:

Villas 4, 5, and 7 have been sold.

The millwork and tiling for Villa 5 are complete, and furniture installation is scheduled for August.

The first living roof installation on Villa 5 is estimated to begin in August or September, aligning with the villaโ€™s substantial completion.

Villa 4 is nearing watertight, with doors and windows installed, and is on schedule for completion next January.

Villa 7 construction will commence next August.

Lots 1, 2 and 3 sitting at 94โ€™ above sea level remain available.  Lot 6, the only single storey design at 110โ€™ above sea level is available, as well as Lot 8 at 151โ€™ above sea level.  Lot 9 is reserved.

Link to the Summit listings   


About Turks & Caicos Sothebyโ€™s International Realty
Turks & Caicos Sothebyโ€™s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

                           

The Palms Turks and Caicos to undergo extensive renovations in the fall of 2024

Please be advised that the Palms will be temporarily closed for extensive renovations starting August 24th, 2024. The resort is scheduled to reopen on December 7th, 2024.

During this period, the Turks & Caicos Sotheby’s International Realty flagship office at the Palms will also be closed, as our team members will be reassigned to the main office.

Please feel to contact Turks & Caicos Sothebyโ€™s International Realty Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474


About Turks & Caicos Sothebyโ€™s International Realty
Turks & Caicos Sothebyโ€™s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visitย http://www.turksandcaicossir.com.

Villas At Blue Mountain, Turks & Caicos Islands – Construction Start Slated for the Fall

Momentum Builds with Sell-Out Success of the Oceanview Villas, with only Three Oceanfront Villas remaining.

Turks & Caicos Sothebyโ€™s International Realty and Villas At Blue Mountain are thrilled to announce that the three recently offered Oceanview Villas have been sold, leaving only three exclusive Oceanfront Villas remaining in this highly sought-after development.

Designed with a focus on the stunning views of Providencialesโ€™ North Shore, these stylish homes embody casual elegance and provide the perfect setting for beachside living. Nestled in the heart of Blue Mountain, this privately managed collection of 12 homes offers an unparalleled combination of luxury, privacy, and breathtaking natural beauty. The Villas At Blue Mountain feature incredible indoor and outdoor living spaces, with open floor plans ranging from three to seven bedrooms, ensuring every amenity required for effortless modern living. 

Renowned architect Rafael Amuchastegui and his talented team at RAD Architecture have masterfully designed these homes to showcase the harmonious blend of glass and stone, highlighting the stunning vistas of the sky, shoreline, and sea. Each villa is a testament to their commitment to creating spaces that enhance the natural beauty of the surroundings while providing a serene and elegant living experience. 

โ€œBlue Mountain was the very first place my family and I lived when we moved to Providenciales. Today it remains one of my favorite locations on the Island with its incredible views, private beach areas and stunning tranquility. I am very excited to be the development custodian of such a rare and timeless piece of paradise,โ€ says Stan Hartling, CEO & Founder of the Hartling Group and developer of this project.

This milestone reflects the unique appeal of the development and the exceptional lifestyle it offers. Turks & Caicos Sothebyโ€™s International Realty is proud to be working together with Stan on a project that is so close to his heart.

Villas At Blue Mountain are more than just homes; they are a sanctuary where residents and owners can immerse themselves in the tranquility of island living. With every detail thoughtfully considered, these villas offer a seamless blend of modern sophistication and relaxed charm.

Dee Agingu, Global Real Estate Advisor and listing agent, expresses her enthusiasm for the project. โ€œI love Villas At Blue Mountain so much that I call it my home. I canโ€™t think of a more inspiring place to reside and it is a thrill to be working alongside Stan Hartling and his team to represent such an amazing development. We are thrilled with our sales performance so far this year and look forward to selling out the remaining three Oceanfront lots in no time!โ€    

Turks & Caicos Sothebyโ€™s International Realty encourages all prospective buyers to schedule a private tour of the spectacular beach grotto as well as the land site to experience firsthand the breathtaking and expansive views of the remaining oceanfront lot. 

View the remaining oceanfront listings here.

Book a tour here.

For more information or to schedule a private tour, please contact the Turks & Caicos Sothebyโ€™s International Realty office I 1.649.946.4474 I info@tcsothebysrealty.com


About Turks & Caicos Sothebyโ€™s International Realty

Turks & Caicos Sothebyโ€™s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. 

For more information please visit http://www.turksandcaicossir.com.

Meet Lisa Lopes, Global Real Estate Advisor, Turks & Caicos Sotheby’s International Realty

Subscribe to continue reading

Subscribe to get access to the rest of this post and other subscriber-only content.

Meet Dee Agingu, Global Real Estate Advisor, Turks & Caicos Sotheby’s International Realty

Meet Dee Agingu, a Global Real Estate Advisor at Turks & Caicos Sothebyโ€™s International Realty. From Kenya to Turks & Caicos, she brings a world of expertise. For Dee, itโ€™s more than transactions; it’s about happy customers finding their dream homes, forging lifelong friendships, and spreading joy with every set of keys handed over.

Watch why Dee is so passionate about real estate and the Turks and Caicos Islands.

Meet Our Leaders

Turks and Caicos Sotheby’s International Realty continues to lead the luxury real estate market in the Turks and Caicos Islands through innovation and excellent results. With the directors at the helm, the firm is built on its years of experience and reputation for superior real estate agents, client service, and leverages the global reach and brand of Sotheby’s International Realty to deliver a new level of service and professionalism to developers, investors, and home buyers in Turks & Caicos Islands.

Introducing Joe Zahm, President and Broker at Turks & Caicos Sotheby’s International Realtyโ€”the premier real estate brokerage in the islands. Discover the most exclusive real estate opportunities in the Turks and Caicos, curated by our outstanding team of agents, who bring talent, trust, hard work, and integrity to every transaction. Nothing compares to what’s next!

To see what makes our approach unique and a glimpse into the future of real estate in The Turks and Caicos, watch his story by clicking the image below.

Meet Nina Siegenthaler, Vice President and Partner of Turks & Caicos Sothebyโ€™s International Realty.

Consistently ranked as the top producer in dollar sales volume in the jurisdiction, Nina remains the number one producer with over $200M in sales production annually. Nina specializes in high-end property marketing and sales and is known for her excellent sales process, service level, and market knowledge. From a sailing vacation to calling this island home, Nina shares her journey and passion for real estate, fueled by the breathtaking landscape and the warmth of the community. Watch her story by clicking the image below.

Meet Richard Sankar, Director and Broker of Partner at Turks & Caicos Sothebyโ€™s International Realty.

Richardโ€™s journey embodies diversity and cultural richness after experiencing life in many places such as Trinidad, Toronto, and The Turks and Caicos Islands. His commitment to aiding others remains steadfast. With a robust community ethos, he takes pleasure in fostering the success of others, a fervor that thrives within the charitable foundation of TCSIR. Learn more about his unwavering commitment to his team by clicking the image below.


About Turks & Caicos Sothebyโ€™s International Realty
Turks & Caicos Sothebyโ€™s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sothebyโ€™s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Turks and Caicos’ Newest Residential Resort, South Bank, Opens in November

Views of the Lagoon Villas and Lagoon Islands


Anticipation builds as South Bank prepares to welcome guests into a realm of unparalleled luxury holiday experiences. Travel and Leisure underscores compelling reasons why considering South Bank for your upcoming trip to Turks and Caicos is a must.

The entire $400 million development, which is opening in phases, was inspired by Port Grimaud, a fishing village in the South of France. โ€œItโ€™s a place with a series of canals and life is lived on the water,” Ingo Reckhorn, co-founder of Windward, the developer of South Bank, explained to me over lunch. Boats can pull up directly to South Bankโ€™s dock.

South Bank is so tranquil that when the waves are calm, you can hear a pin drop and might not see another human being for days. Itโ€™s located on a quiet, low-density part of the island thatโ€™s zoned for single-family homes. The secret weapon is combining seclusion with access to all the other Grace Bay Resorts properties. If you want a change of scenery, say an afternoon at Grace Bay for a sail on the propertyโ€™s catamaran or a gourmet Italian lunch at The Rock House, itโ€™s all at your fingertips and easily arranged.

Stunning views

South Bank was designed by Blee Halligan Architects, a firm based in both London and Turks and Caicos. Theyโ€™ve created sleek, angular, and uber-modern structures that are more reminiscent of the architecture youโ€™d see in Dubai than in the Caribbean.

There are four distinct neighborhoods, one of which, Arc, wonโ€™t open until 2026. The starting category is the boathouses, of which there are 38 one-to-three-bedroom residences located adjacent to the marina, each with its own private rooftop terrace.

The 18 lagoon villas, which range in size from three to five bedrooms, are located on the islandโ€™s first ocean-fed โ€œswimmingโ€ lagoon (itโ€™s only 4.5 feet) that feeds into the open ocean. Some of the Lagoon villas have private docks.

The ocean estates are the crown jewels, ranging from four to six bedrooms. The smallest one is 3,150 square feet, while the largest is in the range of 8,000 feet. And if my visit was sufficient to judge, there isnโ€™t a bad view in the place. Estate villas come with personalized butler service.

Arc will be the structure most reminiscent of a hotel. Currently, it’s a construction site, but by 2026, it will be a six-story building designed by Italian architect Piero Lissoni with 17 residences, ranging from one to five bedrooms.ย 

Food and Drink

When South Bank opens in November, Chef Neerul Tamar, a recent transplant from Sandy Lane in Barbados, will helm Lua, a restaurant with Mediterranean-inspired cuisine. We got a sneak peek (or rather, taste) when he cooked for us one evening. Tamar prepared a straightforward but perfectly executed meal of grilled red snapper with mango salsa, tomato mozzarella pesto salad, and steak with salsa verde that ranks among the most tender Iโ€™ve ever had.

Thereโ€™s a beach firepit lounge, bicycles, a fitness center overlooking the lagoon, and a tennis and pickleball court.

Activities and Amenities

When the property officially opens in November, there will be a boat concierge who can arrange all things boating, including yacht rentals, diving excursions, and access to the coral reef research center.

The Spa

The spa, which has yet to open, will have four beachfront treatment rooms. It will be managed by the same company, Grace Bay Resorts, that runs the top-notch spa at the Grace Bay Club โ€” a promising sign. Three very picky people from our group raved about their massages at the Grace Bay spa.

Source:

Travel + Leisure.

Read the entire article here.


About Turks & Caicos Sothebyโ€™s International Realty
Turks & Caicos Sothebyโ€™s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sothebyโ€™s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Sotheby’s Concierge Auction 2024: Turks & Caicos Sotheby’s International Realty

The worldโ€™s finest art, automobiles and antiques are sold at auction. So is luxury real estate.

Now for the first time since its inception in 1744, an exhibition of luxury real estate will gavel live at Sothebyโ€™s London on 30th May 2024.  Part of its โ€˜The Luxury Salesโ€™ series, the โ€˜Exceptional Global Propertiesโ€™ sale will be simultaneously showcased with Sothebyโ€™s and feature a selection of marquee Sothebyโ€™s Realty offerings alongside the finest luxury items in the world.

Turks & Caicos Sothebyโ€™s International Realty is pleased to announce two spectacular Blue Mountain lots as part of the โ€˜Exceptional Global Propertiesโ€™ offering marking the first time ever that a Turks & Caicos Islands property will gavel at Sothebyโ€™s Auction. Through this exciting partnership with Sothebyโ€™s Concierge Auction.

Accepting Bids from 17th May 2024

Click the images below for more information and to register your bid.


About Turks & Caicos Sothebyโ€™s International Realty

Turks & Caicos Sothebyโ€™s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sothebyโ€™s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit www.turksandcaicossir.com.    

South Bank and ARC Online Webinar: May 2nd, 2024 at 2:00PM EST

Long Bay, Providenciales, Turks & Caicos Islands

Turks & Caicos Sotheby’s Internationalย Realty and Windward Development are pleased to bring you an in-depth webinar to discuss the imminent operational opening date at South Bank in Long Bay, Providenciales, and the exclusive lifestyle associated with ownership in Arc, South Bankโ€™s final and most iconic neighborhood designed by AD-100 architect Piero Lissoni.

Join the panel for their discussion and hear directly from Ingo Reckhorn, Developer of South Bank, Nikheel Advani, for Grace Bay Resorts’ Rental Management, and Joe Zahm, Broker for the development.

Webinar Info:

Click here to register for the webinar

Webinar ID: 820 4989 3386

May 2nd, 2024 at 2:00PM EST

We are looking forward to an exciting and informative session.

Please remember to register if you’d like to attend the webinar.


About Turks & Caicos Sothebyโ€™s International Realty

Turks & Caicos Sothebyโ€™s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sothebyโ€™s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit www.turksandcaicossir.com.    

Turks and Caicos Real Estate – 1st Quarter 2024 YTD Comparison

Real Estate Sales Volume Holding Steady as Pre-Construction Sales Heat Up

Turks and Caicos continues to be a leader in tourism and real estate sales throughout the Caribbean region and the sales numbers and pre-construction sales numbers certainly reflect this attraction to be a part of our incredible environment whether just for a brief stay or for a lifestyle.
 
There are currently a host of opportunities for new development offerings, some currently under construction and some that are about to announce their plans. A number of the larger parcels of beachfront land in Providenciales will be reshaped into high-end, branded hotels, and residences to keep pace with the seemingly endless demand for investment and vacation properties. Our superb tourism offerings continue to attract A-listers from around the globe as seen throughout the social media channels as well as buyers looking for a place to call home amongst the abundant turquoise blue ocean views throughout, the temperate climate, and tranquil laid-back Caribbean atmosphere.
 
The first quarter of this year witnessed another major groundbreaking celebration in Providenciales by the same developers of The Ritz-Carlton Residences with The St Regis on Grace Bay as well as the formal public sales launch by Grace Bay Resorts with The Point. These two new luxury developments have already recorded over 70% (St Regis Tower I of three towers) and 65% (The Point) units sold/reserved. The Loren on Turtle Cove, which broke ground in June 2023, is showing a unit sales production of 52%, and Andaz Turks & Caicos after officially breaking ground last year is reporting unit sales production at 65%. ARC at South Bank is 50% sold with construction to start in May of this year. This new condominium inventory is satiating the overdue demand with buyers who are willing to wait for up to three years for the completion of the resort properties. We are also gaining momentum on some of the boutique new developments such as Villas at Blue Mountain, with multiple pre-sales which will soon start construction, and The Summit at Blue Mountain, which has strong momentum and is well under construction. The positive side, for buyers to the delay in usage of their new vacation property, is the stage payments with new construction which fit the bill for those who prefer a payment plan for their Caribbean investments.
 
While the pre-construction sales in the Condominium Sector are high and not officially recorded within our TCREA MLS statistics, in this 1st Quarter, the re-sale condominium sales volume was $18M, 25%-65% lower in comparison to the past three years with the average price remaining high at $1.1M which resulted in a $/SF of $1,100 at the luxury end (+$1.5M). Also note that re-sale condominium inventory continues to remain low with DOM averaging only 118 days.
 
The Single Family Home Sector continues to lead the way albeit the sales volume is down from 2023โ€™s numbers but steady in terms of healthy growth when reviewing the past five years. There are several pending sales that will be posted throughout this coming year and the new listings that have come on the market will help to fill the gap in this sales volume by the end of the year.
 
The Land Sector experienced a large spike in activity, as a result of five large transactions, Emerald Estate-$8M, Northwest Point-$7.5M, Grace Bay-$6.75M and $5.365 and Long Bay-$3.8M, which also raised the average price to $1.325M, an all-time record. Interesting to note, beachfront land in Long Bay was selling for $20,000 per linear foot of beachfront in January 2021 then hit a cyclical high of over $42,000/LF in January 2022. The 110% increase in value over a one-year period caused a pause in demand for a couple of years. This changed in March 2024 when we saw a modest increase of 10% to over $46,000/LF. The outer island land sales continue with this 1st Quarter seeing 30% of the land units sold from North Caicos, Middle Caicos, and Grand Turk.
 
Enjoy the beautiful spring weather wherever you are! We look forward to keeping you up to date with the real estate market in the months to come.

Do not hesitate to reach out to your sales professional to have a conversation about our market, and to assess purchase and selling opportunities!

Find Turks & Caicos Sothebyโ€™s International Realty past Market Reports link here.

Link to PDF Report

Digital Flip-Book Link Here

About Turks & Caicos Sothebyโ€™s International Realty
Turks & Caicos Sothebyโ€™s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the worldโ€™s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firmโ€™s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474